Question.1143 - Ethics - Relationship of Corporate Governance to Corporate Social Responsibility and eReserve Required Readings re: BP Gulf Oil spill and corporate social responsibility (CSR) Readings.PROMPT:What was key corporate decision point that defines BP's ethical dilemma in this case study? Which ethical frameworks characterizes BP's decision? In your initial Discussion post, be sure to include the following three areas: Explain how the philosophy of Milton Friedman might have played a role in BP management's decisions leading up to the disaster. Explain the role of the ethical framework called "egoism" in the decisions made by BP relating to this disaster. Explain how CSR and theories of sustainability such as triple bottom line could have led BP to make different decisions and avoid the disaster. What would have been the corporate considerations and decision making process?
Answer Below:
BP xxx committed xxxxxx to xxxxxxxxxxx conduct xxxx governance xxxxxxxxxx in xxxxx to xxxxxx safety xxx environmental xxxxxxxxxxxxxx that xxxxxxxx safety xxxxxxxxxx environmental xxxxxxxxx committees xxxx committees xxx a xxxx of xxxxxxx Lin xx Blumberg xxxx sustainability xxxxxxx were xxxxxxxxxxxx by xxxxxxx third xxxxxxx receiving xxxxxx for xxxxxxxxxxxxx stewardship xxx excellence xxxxxxxxxx that xx the xxxxxxx BP xxxxxxxx to xx dedicated xx good xxxxxxxxx governance xxx sustainable xxxxxxxxx King xxxxxxx having xxxxxx governance xxxxxxxxxx internal xxxxxxxxx suggested xxxx BP xxxxxxxxxx was xxxxx of xxxxxx concerns xxx continued xxxxxxxxxx without xxxxxxxx risk-avoidance xxxxxxxx Lin xx Blumberg xxx financial xxxxxx and xxxxxx to xxxx reputation xxxx significant xxxxxxxxxxxx the xxxxxxxxx long-term xxxxxxx Despite xxxxxx governance xxxxx and xxxxxxxxxx in xxxxx the xxxx highlights xxxx these xxxxxxxxxx did xxx effectively xxxxx corporate xxxxxxxx since xxx company's xxxxxxxxxxx to xxxx excessive xxxxx for xxxxx wins xxxxxxxxxx the xxxxxxxx function xx governance xxxxxxxxxx King xxx case xxxxxxxxxxx the xxxxxxx between xxxxxxxxxx needs xxxxx wins xxxx savings xxx long-term xxxxxxx sustainability xxxxxxxxxx with xxxxxxxxxx rules xxx urgency xx short-term xxxxx often xxxx precedence xxxxxxx to xxxxxxx that xxxxxxxxxxx long-term xxxxxxxxx Lin xx Blumberg xxx analysis xxxxxxxxxx the xxxxxxx of xxxxxxxxxxxx playing x crucial xxxx in xxxxxxxx short-term xxx long-term xxxxxxxxxx for xxxxxxxxxxxx and xxxxxxxxxxx relationships xxxxxxx the xxx can xx addressed xxxxxxx institutions xxxx provide xxxxxxx effects xx corporate xxxxxxxx The xxxx suggests xxxx corporations xxxxxx actively xxxxxx in xxxxxx governance xxxxxxx contributing xx the xxxxxxxx of xxxxxxxxx institutional xxxxxx Global xxxxxxxxxx processes xxxxxxx corporations xxxxxxxxxxxxx with xxxxxxxxxxxx to xxxxxxxxx rules xxxx promote xxxxxxxxxxx practices xxx counteract xxx negative xxxxxxx of xxxxxxxxxx decision-making xxx Responsible xxxx initiative xx the xxxxxxxx industry xxx the xxxxxxxx Social xxxxxxxxxx Initiative xxxx are xxxxx as xxxxxxxx of xxxxxxxxxxxx engaging xx global xxxxxxxxxx Lin xx Blumberg xxxxx initiatives xxx to xxxxxxx industry-wide xxxxxxxxx and xxxxxxx sustainable xxxxxxxxx through xxxxxxxxxxxxxxx The xxxxxxxxx Horizon xxxx highlights xxx importance xx having xxxxxx safety xxx environmental xxxxxxxxx indicating xxxx corporations xxxxxx have xx enlightened xxxxxxxxxxxxx in xxxxxxxxxxxx to xxxxxx governance xxxxxxx The xxxx for xxxxxxxxxxxx to xxxxxxxx participate xx global xxxxxxxxxx processes xxxxxxxx a xxxxxxxxxxx that xxxxxxx beyond xxxxxxxxxx companies' xxxxxxxxx to xxxxxxxx broader xxxxxxxx and xxxxxxxx impacts xxxxxx Friedman's xxxxxxxxxx emphasizing xxxxxxxxxxx value xxxxxxxxxxxx might xxxx influenced xxxx management xxxxxxxxx and xxx pursuit xx quick xxxx and xxxx savings xx seen xx BP's xxxxxxx to xxx safety xxxxxxxx and xxxxxx risks xxxxxx with xxxxxxxxxx emphasis xx profit xxxxxxxxxxxx Clarke xxx ethical xxxxxxxxx of xxxxxx focusing xx self-interest xxxxxx a xxxx in xxxx decisions xxx the xxxxx for xxxxx wins xxx cost xxxxxxxxxx even xx the xxxxxxx of xxxxxx and xxxxxxxxx consequences xxxxxxxx an xxxxxxxx approach xxxx prioritizes xxxxxxxxx gains xxx the xxxxxxxxxxx Clarke xxx and xxxxxxxxxxxxxx theories xxxx the xxxxxx bottom xxxx could xxxx led xx to xxxxxxxxx decisions xxx emphasizing xxxxxx and xxxxxxxxxxxxx responsibility xxxxx frameworks xxxxxxxxx a xxxx balanced xxxxxxxx Prioritizing xxxxxx and xxxxxxxxxxxxx concerns xxxx quick xxxx might xxxx aligned xxxxxx with xxx principles xxxxxxxxxxx avoiding xxx disaster xxxxxxx The xxxxxxxxxxx relationship xxxxxxx short-term xxxxx and xxxxxxxxx sustainability xx highlighted xx BP's xxxxxxx of xxxxx wins xxxxxx to xxx need xxx institutions xxx global xxxxxxxxxx Effective xxxxxxxxxxxx addressing xxx tension xxxxxxx immediate xxxxx and xxxxxxxxx success xxxxx have xxxxxx corporations xxxx BP xx prioritize xxxxxxxxxxx practices xxxx problematic xxxxx wins xxxxxxxxxx Claydon x Two xxxxxx of xxx and xxxxxxxxxxxxxx Issues xx Social xxx Clarke x The xxxxxxx on xxxxxxxxx purpose xxx Lynn xxxxx was xxxxx and xxxxxx Friedman xxx wrong xxxxxxxxxx Economics xxx Law x Convivium xxx Hi x Blumberg x The xxxxxxxxxxxx between xxxxxxxxx governance xxxxxx governance xxx sustainable xxxxxxx lessons xxxxxxx from xx Corporate xxxxxxxxxx The xxxxxxxxxxxxx journal xx business xx society x King x O xxxxxxxxx horizon xxx spill xxxxxxxx Risk xxxxxxxx and xxxxxxxxx implications xxxxx PublishingMore Articles From Business Management
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